M&M group Q3 profit declines marginally to Rs 1,230 cr

Mahindra & Mahindra group today reported a marginal decline of 1.93% in consolidated net profit to Rs 1,230 crore for the third quarter ended on December 31, 2013-14.

 

The group had reported a consolidated net profit of Rs 1,254.30 crore for the October-December quarter of the last financial year.

 

M&M's consolidated gross revenue during Q3, 2013-14 grew 8.5% to Rs 20,679.9 crore as against Rs 19,066.8 crore of the same period of last fiscal.

 

The group has gained Rs 256.5 crore on completion of the first part of the transaction in the auto component business with Spanish form CIE Automotives SA, M&M said in a filing to the BSE.

 

Revenue from the automotive segment in Q3 grew to Rs 11,984.43 crore. It was Rs 11,124.70 crore in the same quarter of 2012-13.

 

Revenue from the farm equipment sector was Rs 4,668.14 crore, as against Rs 3,876.61 crore in Q3 of the last fiscal.

 

Its earning from financial services during the quarter increased to Rs 1,366.14 crore. It was Rs 1,066.51 crore in the same quarter of last fiscal.

 

IT services revenue also increased to Rs 78.42 crore in Q3 of 2013-14 as against Rs 67.48 crore in the year-ago period.

 

Earning from hospitality sector and infrastructure also increased to Rs 199.56 crore and Rs 145.50 crore. It was Rs 184.83 crore and Rs 129.95 crore in the previous fiscal.

 

M&M scrip closed at Rs 962.40, up 2%, on the BSE.